{"id":984,"date":"2023-04-11T15:56:32","date_gmt":"2023-04-11T12:56:32","guid":{"rendered":"https:\/\/akaunting.com\/hc\/docs\/reports\/balance-sheet-report\/"},"modified":"2023-04-24T10:57:59","modified_gmt":"2023-04-24T07:57:59","slug":"balance-sheet-report","status":"publish","type":"docs","link":"https:\/\/akaunting.com\/hc\/docs\/reports\/balance-sheet-report\/","title":{"rendered":"Balance Sheet Report"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">What is the Balance Sheet Report?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Balance Sheet is a financial statement in accounting that reports your company&#8217;s assets, liabilities, and equity at a specific time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The purpose of the Balance Sheet report is to provide a snapshot of your company&#8217;s financial health by presenting its assets, which are the resources you own or control; liabilities, which are the debts or obligations you owe to others; and equity, which is the residual interest in the assets of your company after deducting liabilities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Balance Sheet is divided into three sections:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Assets<\/strong>: This section lists your company&#8217;s resources and is divided into two categories: current assets and non-current assets. Current assets include cash, accounts receivable, inventory, and prepaid expenses. Non-current assets include long-term investments, property, plant and equipment, and intangible assets such as patents and trademarks.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161652\/balance-sheet-1024x576.png\" alt=\"Balance sheet report sections\" class=\"wp-image-989\" srcset=\"https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161652\/balance-sheet-1024x576.png 1024w, https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161652\/balance-sheet-300x169.png 300w, https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161652\/balance-sheet-768x432.png 768w, https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161652\/balance-sheet-1536x864.png 1536w, https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161652\/balance-sheet.png 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Liabilities<\/strong>: This section lists debts and obligations to others. Liabilities are divided into current liabilities and long-term liabilities. Current liabilities include accounts payable, short-term loans, and taxes owed. Long-term liabilities include long-term debt and pension liabilities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Equity<\/strong>: This includes common stock, current year earnings, retained earnings, owner&#8217;s investment, and any other reserves or accumulated gains.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You need to install the <a href=\"https:\/\/akaunting.com\/apps\/double-entry\" target=\"_blank\" rel=\"noreferrer noopener\">Double-Entry app<\/a> to get the Balance Sheet report. After installation,<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Go to<strong> Reports<\/strong> on the Navigation Menu.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-video\"><video height=\"1080\" style=\"aspect-ratio: 1920 \/ 1080;\" width=\"1920\" controls src=\"https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161504\/balance-sheet.mp4\"><\/video><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>On the Reports page, go to the <strong>Accounting<\/strong> section.<\/li>\n\n\n\n<li>Click <strong>Balance Sheet.<\/strong><\/li>\n\n\n\n<li>On the Balance Sheet report page, you can use the filters to set the following:\n<ul class=\"wp-block-list\">\n<li>Basis: Accrual or Cash<\/li>\n\n\n\n<li>Report date: Pick a specific period for your report.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>After entering your preferred filters, hit the <strong>Enter Key<\/strong> on your keyboard to refresh and view an updated report.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">You can Print or Export Balance sheet reports from the top left corner of the page.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161537\/pin-print-1024x576.png\" alt=\"Print or Export Balance sheet reports\" class=\"wp-image-988\" srcset=\"https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161537\/pin-print-1024x576.png 1024w, https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161537\/pin-print-300x169.png 300w, https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161537\/pin-print-768x432.png 768w, https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161537\/pin-print-1536x864.png 1536w, https:\/\/assets.akaunting.com\/hc\/2023\/04\/11161537\/pin-print.png 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">To schedule reports, you need the <a href=\"https:\/\/akaunting.com\/apps\/schedule-reports\" target=\"_blank\" rel=\"noreferrer noopener\">Schedule Reports app<\/a>.<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>Check out <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-light-green-cyan-color\"><a href=\"https:\/\/akaunting.com\/hc\/docs\/reports\/scheduling-a-report\/\" target=\"_blank\" rel=\"noreferrer noopener\">how to schedule reports<\/a><\/mark>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the Balance Sheet Report? The Balance Sheet is a financial statement in accounting that reports your company&#8217;s assets, liabilities, and equity at a specific time. The purpose of the Balance Sheet report is to provide a snapshot of your company&#8217;s financial health by presenting its assets, which are the resources you own or [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":928,"menu_order":9,"comment_status":"open","ping_status":"closed","template":"","doc_tag":[],"class_list":["post-984","docs","type-docs","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/docs\/984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/docs"}],"about":[{"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/types\/docs"}],"author":[{"embeddable":true,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/comments?post=984"}],"version-history":[{"count":3,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/docs\/984\/revisions"}],"predecessor-version":[{"id":1534,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/docs\/984\/revisions\/1534"}],"up":[{"embeddable":true,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/docs\/928"}],"wp:attachment":[{"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/media?parent=984"}],"wp:term":[{"taxonomy":"doc_tag","embeddable":true,"href":"https:\/\/akaunting.com\/hc\/wp-json\/wp\/v2\/doc_tag?post=984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}